Key releases for the first half of this week have been dominated by various sectors of Britain’s housing market. In addition to mortgage lending and BoE consumer credit data, mortgage approvals and Nationwide housing prices data will be released tomorrow.
The annual Nationwide House Price Index in the UK rose by 1.1% January , well below market forecasts of and market forecasts of 1.9% and a 2.8% rise. This pointed to a fifth consecutive decline, and longest losing streak in over a decade. Markets are expecting Wednesday’s data release to reveal a sixth consecutive decline.
